Decentralized Exchange Aggregator Jupiter Announces JUP Token Release
Decentralized exchange aggregator Jupiter is set to release its governance token, JUP, on January 31.
The launch will feature an airdrop of the token to nearly one million crypto wallets during its initial phase.
Solana decentralized exchange aggregator Jupiter has officially confirmed that its governance token, JUP, is scheduled to launch on January 31. The project plans to conduct an airdrop to nearly one million crypto wallets during the first phase of its launch.
Testing Phase and Memecoin Launch
As part of its launch platform testing, Jupiter’s pseudonymous founder Meow mentioned that the project will conduct a test launch with “mockJUP” today. Additionally, there are plans for a memecoin launch next week, which will be facilitated by a third-party. Meow clarified that it is a real memecoin, but not affiliated with Jupiter or MEOW, urging the community to stay tuned for more details.
The project also aims to kickstart its working group and “DAO vision” and finalize the Jupiter white paper before the token launch.
The Jupiter Airdrop
Jupiter initially announced its retrospective airdrop plans in November as a reward for early users. The airdrop allocation website went live on December 1.
The project plans to airdrop four billion tokens, equivalent to 40% of Jupiter’s total 10 billion token supply, in four phases. Subsequent airdrop rounds will target new users.
In the first phase, one billion Jupiter tokens will be released to 955,000 eligible users who conducted a minimum of $1,000 in swap volume on the protocol by the snapshot date of November 2. Various reward tiers will be assigned based on each user’s volume.
Jupiter holds the position of the largest DEX aggregator on Solana by swap volume, having generated over $16 billion in trading volume during December. This marks a significant increase from around $4 billion in November and $1 billion in October.
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